Decentro has announced its integration with multiple NBFCs to help them digitize various components of their lending cycles. Some notable ones include Saraloan (Blacksoil Capital), Nimisha Finance India, Umeed Leasing & Finance and more.
The key driver for these NBFCs is their need to streamline their money flow by 10X and automate operations to reduce expenses by more than 90%. With these integrations, Decentro provides them a compelling API experience that leverages digital banking and KYC to enable them to deliver a seamless customer experience and simplify the collection process to gain full visibility & control over their cash flow & credit cycles.
This API banking infrastructure enables Saraloan to create a more powerful impact on the MSMEs residing in the supply chain that have always been facing credit shortage & access to quick finance to fund their operations. Additionally, Saraloan is able to automatically track payments, reconcile transactions, and verify the creditworthiness of each user before extending credit. The fintech player has processed transactions worth more than ₹13 Crores via Decentro’s APIs in just a couple of months, to facilitate Receivable Financing and Vendor Financing for their MSME customers.
Decentro is also empowering Nimisha Finance India as well as Umeed Leasing & Finance in a similar manner with its credit & banking API modules. Nimisha Finance leverages Decentro’s API workflows to optimize their collection process, thereby saving more than 5X of their operational expenses. All transactions that flow through are reconciled in real-time via a fully-automated process and this helps the NBFC to save resources, time, capital. Within a quarter of onboarding, Nimisha Finance has processed transactions worth around INR 96 Crores via Decentro’s APIs and has had more than 8.6 Lakhs API hits.
Speaking about the integrations and growth, Rohit Taneja, Founder, Decentro, said, “India’s lending landscape is evolving with technological innovations at its heart. APIs play a crucial role in facilitating digital transformation and we are about to cross 110 companies that have chosen to build and scale their product via our platform. Decentro wants to empower all the potential fintechs, NBFCs, insurtech companies and more with our modular API stack. We’re delighted to partner with some great NBFCs like Saraloan, Nimisha & Umeed, who believe in a digital-first approach and are facilitating agile solutions.”
Saraloan is a tech-driven lending fintech & a child company of leading NBFC in India, Blacksoil is transforming supply chain finance in India. It enables supply chain players, especially microbusinesses, to meet their financial needs through its range of products and services such as Pay Later, Receivable Financing, Vendor Financing & Cash Advance. Saraloan’s automated tech platform has served several leading businesses in India, including Jumbotail, Storeking India, P&G, DeHaat, Elastic Run, and Fashinza.
Daman Kohli, CTO, Saraloan said, “Payment tracking and reconciliation has a very crucial role in vendor financing, specially when you’re dealing with umpteen vendors, distributors, retailers, marketplace platforms, and more under a single ecosystem. Having Decentro on board has helped us streamline our lending cycle, optimize the cash flows, ensure methodical & automated collections, all without expanding our workforce.”
Nimisha Finance is a non-banking financial institution (NBFC) that offers financial services designed specifically for poor rural and semi urban families, enabling them to augment income-generating activities. Since inception, it has facilitated ₹44.81 crore in cumulative disbursement. Additionally, it has State Bank of India, Ananya Finance for Inclusive Growth, Reliance Commercial Finance, Incred Finance etc. as its funding partners.
Rohit Thakur, VP, Nimisha Finance India Pvt Ltd, “The access to credit for underprivileged rural/semi-urban families in tier 3 cities and beyond in India is still a harsh struggle. With financial integration APIs, we’re leveraging tech to further reinforce our hyperlocal focus & the Grameen model to enable these households to fund any activity/gigs that drive income. Leveraging Decentro’s banking as a service stack has helped us in simplifying our collection process and track every single transaction disbursed through the platform.”
The development comes on the heels of Decentro hitting the milestone of $1.8Bn+ worth collections and payouts in money flow on an annualized basis within 15 months since product launch. The company is planning to scale up across categories with its strong and unified BaaS API stack as well as 10X its revenues in the next 12 to 15 months.
The company recently crossed 110+ live customers (companies) on its platform across a mix of categories like marketplaces, NBFCs, investment apps, neo-banks, and many more. It also entered 2 new categories like B2C/Consumer lending apps, and logistics with its recent integrations with the likes of MoneyTap, Uni Cards, and Agarwal Packers & Movers to streamline their financial workflows.